Zecotek Photonics Inc ZMSPF

Healthcare Medical Devices

Zecotek Photonics Inc is in the business of research and development of photonics technologies. The company is focused on creating advanced materials and integrated optoelectronic devices for high-resolution medical imaging, optical precision surgery, and biopharmaceutical research. It operates in three divisions which include Imaging systems, Optronics systems, and 3D display systems with labs located in Canada, Korea, Russia, Singapore, and the U.S.A. The company develops products such as scintillation crystals, solid-state, photodetectors, positron emission tomography scanning components, lasers, and 3D display and 3D printing technologies. These products are used in sectors such as healthcare, scientific and industrial.

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Post by schelbibbeson Dec 07, 2019 5:52pm

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Post# 30432645

New facts ...

Loan Payable

ZIS offered a 2% equity interest in ZIS in exchange for USD 1.5 million. The funds have been received but due to a declining share price, the Chinese investment group requested to renegotiate the investment and the parties agreed to make it a loan convertible to shares when the restructuring transaction is finalized. An additional USD 1.5 million was invested by the same investor during the quarter for an increase in equity interest.

The terms have not been finalized to date. USD 3 million has been recorded as loan payable.

On July 29, 2019, ZICL received RMB 1.5 million (equivalent to $286,500) where the loan bears an annual interest rate of 15% and will mature on January 29, 2020.

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